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Amazon introduces Local Register Secure Card Reader

Amazon has introduced its Local Register Secure Card Reader ($10), a mobile credit card reader to rival products from Square and PayPal. The iPhone and iPad-compatible card reader offers a 2.5 percent rate for swiped transactions — lower than Square and PayPal. Additionally, customers who sign up by October 31 will only pay 1.75 percent per swipe until 2016. Though the card reader costs $10, for a limited time, Amazon will credit the first $10 in processing fees for customers who create an Amazon Payments account and sign up to use the reader.